Olaplex (NASDAQ:OLPX) Trading Up 6.7% – What’s Next?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares traded up 6.7% on Monday . The company traded as high as $2.06 and last traded at $2.06. 626,751 shares changed hands during trading, a decline of 74% from the average session volume of 2,411,249 shares. The stock had previously closed at $1.93.

Analysts Set New Price Targets

Several brokerages recently weighed in on OLPX. Barclays reduced their price target on Olaplex from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. TD Cowen increased their price target on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $3.00 price target on shares of Olaplex in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.30.

Olaplex Stock Up 8.8 %

The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.39 billion, a PE ratio of 33.17 and a beta of 2.47. The company’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $1.94.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Olaplex had a return on equity of 10.50% and a net margin of 9.78%. The business had revenue of $119.10 million during the quarter, compared to analyst estimates of $126.51 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. Olaplex’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts expect that Olaplex Holdings, Inc. will post 0.11 EPS for the current fiscal year.

Insider Activity

In related news, Director John P. Bilbrey acquired 51,697 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $1.75 per share, with a total value of $90,469.75. Following the acquisition, the director now directly owns 318,418 shares of the company’s stock, valued at approximately $557,231.50. This trade represents a 19.38 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. Price T Rowe Associates Inc. MD boosted its position in shares of Olaplex by 27.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,957 shares of the company’s stock valued at $60,000 after acquiring an additional 6,614 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Olaplex by 38.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,819 shares of the company’s stock valued at $40,000 after purchasing an additional 7,235 shares during the last quarter. Abel Hall LLC grew its stake in shares of Olaplex by 68.1% in the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after buying an additional 7,397 shares in the last quarter. Catalina Capital Group LLC increased its holdings in shares of Olaplex by 51.3% in the 2nd quarter. Catalina Capital Group LLC now owns 24,088 shares of the company’s stock worth $37,000 after buying an additional 8,172 shares during the last quarter. Finally, Sanders Morris Harris LLC lifted its holdings in shares of Olaplex by 2.9% in the 3rd quarter. Sanders Morris Harris LLC now owns 354,000 shares of the company’s stock valued at $832,000 after acquiring an additional 10,000 shares during the last quarter. 87.37% of the stock is owned by institutional investors.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.